Step-out drilling at O’Brien intersects 92.89 g/t Au over 2.60 m, 47.10 g/t Au over 2.50 m and 45.33 g/t Au over 2.20 m highlighting lateral expansion of the first mineralized trend
ROUYN-NORANDA, Quebec, Oct. 07, 2020 (GLOBE NEWSWIRE) — Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): (“Radisson” or the “Company”) is pleased to announce significant high-grade gold intercepts from the ongoing 60,000 m exploration drill program at its O’Brien gold project located along the Larder-Lake-Cadillac Break, halfway between Rouyn-Noranda and Val-d’Or in Quebec, Canada.
HighlightsShallow high-grade intercepts suggest an opportunity to expand resources in the gap between the old O’Brien mine and the upper part of the first high-grade trendHole OB-20-153 intersected multiple mineralized intercepts outside defined resources approximately halfway between the first mineralized trend and the old O’Brien Mine, including;92.89 g/t Au over 2.60 m (vertical depth of 230 m);47.10 g/t over 2.50 m (vertical depth of 150 m),Both intercepts were obtained outside current resources west of the first mineralized trend along with visible gold showingsThese intercepts were obtained above and to the east/west of historical high-grade intercepts of 43.37 g/t Au over 1.31 m and 124.57 g/t over 0.82 m, all of which are currently excluded from the 2019 resource estimateAssays are pending for hole OB-20-168 which intersected visible gold in two sections, 295 m and 330 m respectively below hole OB-20-153 and west of current resources (See Visible Gold in hole OB-20-168 and OB-20-153)OB-20-153 along with previously released and historical high-grade intercepts highlights an opportunity for significant resource growth in gap between the old O’Brien mine and currently defined resources in the first mineralized trend.
Deeper drilling highlights potential for resource growth in the first mineralized trend both to the east and west, below the boundary of currently defined resourcesHole OB-20-148W1 returned 45.33 g/t Au over 2.20 m core length (vertical depth of 700 m) immediately below and at western boundary of current resources within the first mineralized trend.The intercept was obtained more than 125 m west of other high-grade intercepts including 16.76 g/t over 4.00 m, 37.76 g/t over 2.00 m and 66.71 g/t over 4.70 m.In addition, OB-20-148 intersected 5.47 g/t over 2.00 m, approximately 150 m below OB-20-148W1.Results highlight the potential to expand mineralization to the west towards the old O’Brien MineAssays are also pending for OB-20-164, OB-20-167 and OB-20-170, all of which intersected visible gold in mineralized structures, close to historical intercepts of 1920.00 g/t Au over 0.21 m and 101.31 g/t over 0.61 m outside current resources on the eastern portion of the first mineralized trend. (See visible gold in hole OB-20-164, OB-20-167 and OB-20-170).Current resources in the area are limited to a vertical depth of 600 m and drilling to date has demonstrated continuity down a depth of approximately 950 mWithin an area extending approximately 300 m laterally and 350 m vertically below the resource boundary.Mineralization is open for expansion laterally and at depth below 950 m.
Drilling at O’Brien continues to validate litho-structural model while highlighting resource growth potential laterally and at depthDrilling to date has continued to define and expand three high-grade mineralized trends, located approximately 300 m, 600 m and 900 m respectively to the east of the old O’Brien Mine.Mineralized trends identified bear similarities with structures previously mined at O’Brien down to a depth of 1,100 m (historical production of 587 koz grading 15.25 g/t)Latest results demonstrate lateral expansion of first mineralized trend to the east and west. Results so far have traced mineralization in the first high-grade trend down to 950 m (approximately 350 m below the resource boundary). Mineralization remains open for expansion at depth as well as laterally to the east and west.Almost all drilling conducted as part of the ongoing campaign has been within a strike length of approximately 1 km to the east of the old O’Brien mine, representing only a small portion of more than 5 km of prospective strike that Radisson controls along the Cadillac Break.52,500 m of drilling completed to date with assays pending for approx. 16,500 mThis release represents approximately 2,729 m of drilling.Released results to date (since the commencement of drilling in August 2019) represent only 60% of the total planned 60,000 m program.The company is funded to expand the program to over 75,000 m.
“We are very pleased with results from our ongoing drill program that continue to validate our litho-structural model and highlight the significant resource upside at O’Brien. The team has continued to do a commendable job with targeting efforts. With results released so far representing only 60% of our allocated program we look forward to regular exploration updates over the balance of 2020 and into 2021.” commented Mario Bouchard, Chief Executive OfficerSee Figure 1 Longitudinal section looking North – Resource area O’Brien projectSee Figure 2 Longitudinal and cross section – First trend and gap areaNotable drill results
QA/QCAll drill cores in this campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 5 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Samples containing visible gold were analyzed with metallic sieve procedure. Standard reference materials and blank samples were inserted prior to shipment for quality assurance and quality control (QA/QC) program.Qualified PersonFinder’s feesIn relation to the July 9th 2020, press release relating to the closing of a $2.5M private placement. The company wishes to clarify that the 6% finder’s fees relating to certain orders and paid to Laurentian Bank Securities Inc represented an amount of $89,999.98.Radisson mining resources Inc.On behalf of the board of directorsMario Bouchard
CEO and DirectorForward-Looking StatementsAll statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the development of the O’Brien project and generally, the above “About Radisson Mining Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward looking information can be found in Radisson’s disclosure documents on the SEDAR website at www.sedar.com. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavours to develop the O’Brien project and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.Contact: Hubert Parent-Bouchard
Director, Corporate development